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Parallel Channel

A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.

A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
theansweris42 theansweris42 BTCUSD, 60, Short ,
BTCUSD: Wave 2 Corrective in Progress. Down to ~$8065
401 3 9
BTCUSD, 60 Short
Wave 2 Corrective in Progress. Down to ~$8065

I have an Elliott wave count which reveals a completed five-wave impulse. Using Kennedy channeling and Elliott wave I predict a retracement to ~$8065.

LeeThompson97 LeeThompson97 ETHUSD, 30, Long ,
ETHUSD: Ethereum buy opportunity after breakout & retest
149 0 2
ETHUSD, 30 Long
Ethereum buy opportunity after breakout & retest

Currently price is at the bottom of a bullish channel. Within this larger channel is a descending channel which price broke out of and is now retesting the support. The combinations of these two and the long term bullish prospects gives a great entry for a buy opportunity,

IroncladInvestments IroncladInvestments GBPJPY, 240, Short ,
GBPJPY: GBPJPY short term sell idea
136 0 2
GBPJPY, 240 Short
GBPJPY short term sell idea

We still are holding our bullish bias on this pair but we are approaching a key area, we will be looking to see how whether the daily candle can close above the 151.000 handle which could encourage a bullish rally to year highs. However, price is approaching key fib levels of previous swing and stochastic is signalling overbought so we are expecting a retracement ...

BenevolentBadger BenevolentBadger BTCUSD, 1D,
BTCUSD: BTC - Critical Support test coming
30 0 0
BTC - Critical Support test coming

Daily chart showing BITTREX:BTCUSDT approaching the bottom of the parallel channel and more importantly, the Weekly bear trend it left back in April. Should bottom of the channel break then there is a good chance of us returning to the overall downward trend that start at beginning of the year. #PrayForBTC

JoseAntonioSolorzano JoseAntonioSolorzano XAUUSD, 60,
XAUUSD: XAUUSD Wait for channel breakout.. Good one!!!
30 0 0
XAUUSD Wait for channel breakout.. Good one!!!

Gold is in a little 1hr channel, lets wait to see the price action. if breaks to the upside we continue bullish until 1310 region as target 1 and 1325 region as target 2. Also is touching a Daily strong trend line. If the price continue dropping we can expect around 150 200 pips more. Keep an eye on this one..

JoseAntonioSolorzano JoseAntonioSolorzano CADJPY, 240,
CADJPY: CADJPY with double option!!
34 0 0
CADJPY with double option!!

CADJPY close to a Daily region, we can expect a pull back until the trend line and continue the bearish movement, or can break the daily region and continue to the up side until next resistance. Lets wait for a candle confirmation.

theansweris42 theansweris42 BTCUSD, 60, Short ,
BTCUSD: Wave 2 Corrective in Progress. Down to ~$7200-7800
41 1 0
BTCUSD, 60 Short
Wave 2 Corrective in Progress. Down to ~$7200-7800

This wave-count posits a slide to the floor of the Kennedy base channel of the motive wave beginning early April down @ ~$7200

Jack_Boulevard Jack_Boulevard VIBBTC, 240, Short ,
5 0 1
VIBBTC, 240 Short

Vib has broke out of the channel it has been in for some time. It has also opened and moved below a key 4 hr support. If we get a close below 2199 then i will be shorting my position and looking to reenter at a lower price. Target may be around the 2015 mark.

-Westy- -Westy- BTCUSD, 15, Short ,
BTCUSD: 10% BTC Sale Now On!
287 1 4
BTCUSD, 15 Short
10% BTC Sale Now On!

End of Week Sale, 10% discount while stocks last

Captain_Walker Captain_Walker AUDUSD, 480,
AUDUSD: Lovely situation on AUDUSD
54 0 1
Lovely situation on AUDUSD

Nice channel but with real uncertainty, as always. I'll say little here, as it's all in the video. This is a lovely situation for new traders to play with on a paper trading account. Have a go! It's only play money. Remember when we were kids? We learned by playing.

mda_fx mda_fx GBPJPY, 240, Short ,
29 0 0
GBPJPY, 240 Short

-Description potential false breakout, price closed above channel but was unable to sustain this and re-entered the channel. i am anticipating price to fall to the support of the channel or moving averages may act as dynamic support so, i am anticiapting 2 enteries, 1st held till moving average (dark blue MA), 2nd held till channel support.

naynay97 naynay97 SPX500USD, 60, Short ,
SPX500USD: spx500usd bearish
21 0 0
SPX500USD, 60 Short
spx500usd bearish

Descending channel plus lower low to lower high are being made so this indicates bearish move and also bearish triangle pattern is also formed as well. That is 3 indications that this CFD will go bearish.

Captain_Walker Captain_Walker US30, 15,
US30: Resistance ledge in a channel
13 0 1
US30, 15
Resistance ledge in a channel

The video shows the picture, so will say little about this here.

XCUUSD: Channel trading with previous resistance level broken
8 0 0
XCUUSD, 120 Long
Channel trading with previous resistance level broken

Now the red upper channel has been broken, will the bulls push Copper on up to the upper BLUE channel, or will it break out of the current Orange parallel channel before doing so? I'm bullish (at the moment).

Captain_Walker Captain_Walker AUDUSD, 720, Long ,
AUDUSD: Aussie-Dollar - stalking for a reversal
24 0 1
AUDUSD, 720 Long
Aussie-Dollar - stalking for a reversal

I apologise for fuzzy video quality in latter half of this video. It's problem I'm having in a few vlogs, that doesn't seem related to my system or internet connection. But fuzzy as it becomes the overall outline of the potential reversal set up is still well visible. See also https://www.tradingview.com/x/CC0gwjwm/

Trend_Analyst Trend_Analyst USDCAD, 15, Short ,
USDCAD: USDCAD Short Channel Trade
32 0 0
USDCAD, 15 Short
USDCAD Short Channel Trade

Possible short trade, expecting USDCAD to fall back to the lower channel line. Good risk to reward of 4.5:1. Stop is placed outside of the upper channel line, if stopped out would need to re-evaluate and possibly look for a long breakout trade.

ArminZed ArminZed EURGBP, 1D, Long ,
EURGBP: EUR-GBP ( Buy Position Daily Chart )
145 0 2
EUR-GBP ( Buy Position Daily Chart )

As you can see, after price reached the low level and came up and there is more power that price comes up again Good luck! :)

Twigger95 Twigger95 USDCHF, 240, Short ,
16 0 0
USDCHF, 240 Short
USDCHF Short Idea

USDCHF Short Idea. Descending channel, Reached the upper trendline and a resistance area.

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